Medifirst Solutions Inc (OTCMKTS:MFST) shares rose 12.12% on Tuesday and an additional 13.78% to $0.00421 in after-hours trading. The company has a market cap of $561,734.00 at 138.02 million shares outstanding.
In a press release this week, Medifirst Solutions Inc announced that it will be presenting its FDA cleared laser technology at a medical conference on January 27th in Casablanca, Morocco, which will host about 100 physicians who will be specifically attending to see a presentation and demonstration of the Infrared Time Machine Laser, and on February 1st in Dubai, United Arab Emirates.
In Morocco, medical distributors have inquired about the company’s time frame and capacity to produce and ship large bulk orders so Medifirst Solutions Inc has decided to ramp up production and inventory to accommodate potential orders. The company will also be meeting with representatives of the Moroccan Ministry of Health who have the authority to purchase medical devices for all the hospitals in the country and has plans on setting up a distribution hub in Morocco that would expedite future orders in that region
“After we complete our demonstration and presentation, we anticipate finalizing the initial sales and fulfillment process. This is just the beginning of what we hope is a long term business relationship in the region,” said Medifirst Solutions Inc President Bruce Schoengood.
In Dubai, company representatives will also be meeting representatives of a Saudi Arabia based medical distributor that has requested exclusive rights for four countries in the region.
“We are excited to have the opportunity to meet distributors who have the buying power for bulk orders of our Laser. Medifirst will also be meeting with several Dubai based medical distributors who have requested to meet the Medifirst management regarding sales and distribution for the Time Machine Lasers,” added Schoengood.
Last year, the Time Machine Lasers received clearance from the U.S. Food and Drug Administration to market its infrared Time Machine TTML-8102000 Laser Thermal Therapeutic Device. Since then, Medifirst Solutions Inc has moved into the next phase of operations which includes developing and implementing sales, marketing and continued FDA compliance.
Medifirst Solutions Inc is a development-stage company. It is engaged in developing medical devices under a manufacturing agreement in which it produces its hand-held mobile laser system known as The Time Machine Program.
Through its subsidiary Medical Laser Manufacturer, Medifirst Solutions Inc has entered into a License Agreement with Laser Lab Corp to license the use of various properties in connection with seeking regulatory approval for and marketing, distributing and selling The Time Machine Series Lasers. This also provides for an option to license other fields of use of the infrared laser in the TTM Series, as well as other wavelengths and colors, allowing the Company to develop a range of product offerings.